Iceland Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in iceland, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
Select Country Guide
Import Tariffs
Last published date:

Iceland’s customs register is based on the Harmonized Commodity Description and Coding System (HS).  Iceland eliminated tariffs on consumer goods including clothing and electronics in 2016 and 2017.  Goods imported to Iceland are subject to Value Added Tax (VAT).  The standard VAT rate is 24 percent, with a reduced rate of 11 percent for foods, books, magazines, and other necessities.  Electric, hybrid, and hydrogen cars are exempt from VAT through 2023.  It is currently unknown if these exemptions will continue into 2024.

On May 1, 2018, an agreement came into force between Iceland and the EU concerning reduced or eliminated tariffs, and increased tariff quotas on unprocessed agricultural products.  As part of this agreement, Iceland dropped tariffs of more than 340 categories of unprocessed agricultural products originating in the EU and reduced tariffs of more than 20 categories.  This left U.S. agricultural products exported to Iceland up to 30 percent more expensive than products from the EU, as tariffs for many agricultural products from the United States remain between 20-30 percent.  The Customs Register can be found on the Iceland Revenue and Customs website.

To look up duties and tariffs use, use the Customs Info Database tariff look-up tool, available on trade.gov (free registration required), to estimate duties and taxes.

×

Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

Privacy Program | Information Quality Guidelines | Accessibility